Hi Emily,
Yes, recalculating the interest for declining balance (Elsie F) will meet
their needs.
They are not looking for additional incentives.
I guess this will also automatically take care of zero interest to be paid
if fully re-paying their principal outstanding.
Else, what Gayl mentioned about "repay loan" will meet their need to close a
loan without having to pay any future interest.
Thanks
Binny
On Thu, Dec 2, 2010 at 11:37 PM, Emily Tucker <[email protected]
> wrote:
> > If the calculation of the incentive is done using an excel
> >sheet and then is there a way to "write-off" a portion of
> >the loan based on this calculation, this just might meet the need.
>
> There is no way to do this. However, as Kay mentioned, in Elsie F, we will
> recalculate interest for declining balance-- so customers will pay less
> interest if they make repayments earlier. Will you let us know if this will
> satisfy their needs?
>
> In terms of additional incentives or "loan forgiveness"-- I've heard this
> come up before-- albeit at only a few MFIs (in PH, for example)-- but none
> in India. If you can collect more details around the requirements, we can
> add it to the feature backlog and wait to see if more requests like that
> bubble up.
>
> Cheers,
> Emily
>
>
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